ADDITION OF MULTIMEDIA Inovalis REIT strengthens its presence in France with the acquisition of a ninth property in Île-de-France and reinstates the dividend reinvestment plan
TORONTO, April 07, 2022–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (TSX: INO.UN) (“Inovalis REIT”) announces today that it has finalized the acquisition of the “Gaïa” office building in Nanterre, in the Paris suburbs, in the immediate vicinity of the La Défense district. The ninth building in the FPI’s Parisian portfolio, the Gaïa is a 5-story 118,400 square foot building built in 2014 and acquired from GA Smart Building and Paref, who co-developed the property.
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“This acquisition is in line with our investment strategy in key European markets where we have considerable experience and knowledge,” said Khalil Hankach, Managing Director of Inovalis SA and Chief Investment Officer of Inovalis REIT. “We were delighted to source this quality, accretive and solvent asset, which benefits from a good mix of tenants in a strategic office area close to one of the main European business districts. our core+ strategy, which will see us continue to invest in mature and consolidated markets, and in assets generating predictable cash flow.”
Le Gaïa has many attractive features, including a spacious and modern lobby, bright office spaces and elevated private terraces with unique views of Mont Valérien. The establishment also offers several quality services, such as a restaurant with outdoor terrace, meeting rooms, a common lounge area and co-working spaces. The Gaïa has received dual High Environmental Quality (HQE) and BBC Effinergie (Low Consumption Building) certification and is equipped with an Active IT Performance Management system, which supports high-performance energy efficiency levels (2.32 kwh /PC/year).
Gaïa Tenants benefit from very competitive Gross Rent levels, due to low and controlled operating costs, allowing the Lessor to maximize net rents, while neighboring assets seeking higher or similar Gross Rent levels do not offer not most services provided by Gaia. . Tenant leases include annual increases indexed to inflation, with no cap, and full recovery of operating expenses.
Adjoining the new Shepherdess Eco-district to be completed in 2025, the Gaïa benefits from a qualitative and dynamic environment which will be further enhanced by the completion of the large-scale renovation program of the Parc Sud, supported by the city and the Region.
Reinstatement of the Dividend Reinvestment Plan
Inovalis REIT also announced that the REIT’s Board of Trustees has approved the reinstatement of the Dividend Reinvestment Plan (“DRIP”), effective with the April distribution for unitholders of record on April 29, 2022. shares that were registered in the DRIP at the time of its suspension and not having subsequently withdrawn will automatically resume its participation in the DRIP.
The DRIP allows eligible Unitholders to reinvest their cash dividends paid on their Units in additional Units which, at the REIT’s option, will be issued into the Treasury or purchased on the open market. If the REIT elects to issue Treasury Units, such Units will be purchased under the DRIP at a 3% discount to the volume-weighted average of the closing price of the Units on the TSX for the five days trading immediately preceding the relevant dividend payment date. . The REIT may, from time to time, at its sole discretion, modify or eliminate the discount applicable to Units issued from the authorized capital.
To be eligible to participate in the DRIP, unitholders must be resident in Canada. Participation in the DRIP does not relieve Unitholders of any liability for taxes that may be payable with respect to dividends that are reinvested in further Units under the DRIP. Unitholders should consult their tax advisors regarding the tax consequences of their participation in the DRIP having regard to their particular circumstances.
The full text of the DRR is available in the “Investor Relations” section of the REIT’s website at https://www.inovalisreit.com. Eligible Beneficial Unitholders who wish to participate in the DRIP should contact their investment advisor, bank or brokerage firm to enroll in the DRIP.
Unitholders should carefully read the full text of the DRIP before making any decision regarding participation in the DRIP.
Certain statements contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors that may cause results, performance or actual achievements are materially different from any future ones. results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, “plan”, “should ‘, ‘believe’, ‘confident’, ‘plan’ and ‘intend’ and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information contained in this press release includes, but is not limited to, statements made in connection with: the acquisition of a new asset in Paris, the reinstatement of the RRD and the terms of the RRD and the corporate objectives of the REIT. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or events, performance or achievements of the REIT to differ materially from those anticipated or implied by such forward-looking information. The REIT believes that the expectations reflected in the forward-looking information included in this press release are reasonable, but there can be no assurance that such expectations will prove to be correct. In particular, there can be no assurance that: the REIT will maintain the DRIP in place or the REIT will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that the forward-looking information included in this press release is not a guarantee of future performance, and such forward-looking information should not be relied upon unduly. Further information on the risks and uncertainties affecting the REIT’s activities and the activities of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form and in its most recent MD&A, copies of which are available. under the REIT’s profile on SEDAR at www.sedar.com. All forward-looking statements made in this press release are qualified by such cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will occur or, even if substantially realize that they will have the intended consequences or effects on the REIT. The forward-looking information included in this press release is made as of the date of this press release, and the REIT undertakes no obligation to publicly update or revise such information to reflect new events or circumstances, except as required by applicable law. requires it.
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David Giraud, Managing Director Khalil Hankach, Chief Financial Officer
Inovalis real estate investment fund Inovalis real estate investment fund
Tel: +33 1 5643 3323 Tel: +33 1 5643 3313
[email protected] [email protected]